Treasury Renews Stress Test Paperwork for Giant Banks
Published Date: 2/5/2025
Notice
Summary
Big banks with $250 billion or more in assets need to keep doing their yearly stress tests and submit reports using updated forms. The Office of the Comptroller of the Currency (OCC) is renewing this paperwork and asking for public feedback by March 7, 2025. This helps keep the financial system safe without adding extra hassle or costs.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Big Banks Must Continue Annual Stress Tests
If your institution has total consolidated assets of $250 billion or more, you must continue to run company-run annual stress tests and submit reports to the OCC using the OCC reporting template (OMB Control No. 1557-0319). The OCC estimates 4 respondents annually and 5 biennially and an estimated total annual burden of 2,881.67 hours. Comments on the information collection are due by March 7, 2025.
CECL Supplemental Schedule Removed
The OCC removed the CECL Supplemental Schedule from the reporting instructions. That one-time schedule related to adoption of ASU 2016-13 is no longer required because firms have adopted ASU 2016-13 and the supplemental collection is not needed going forward.
LIBOR References Deleted from Forms
The OCC eliminated references to LIBOR in the reporting instructions because LIBOR is no longer a reference rate. The change updates and corrects form instructions to remove obsolete references.
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